Key Takeaways

• $4.6 billion was lost globally to crypto scams in 2024.

• AI technologies are enabling more sophisticated scams through deepfakes and social engineering.

• Tools like blockchain mixers make fund recovery nearly impossible.

• Investor education and due diligence are vital for protection.

The Game Has Changed, Scammers Continue To Evolve

Unlike the rudimentary phishing attacks of the past, today’s scams use advanced technologies like deepfakes, AI-generated personas, and social engineering to mislead even the savviest investors.

Bitget’s Anti Scam Report 2025

Source: Bitget

Gone are the days when scam emails riddled with typos were your biggest concern. Today’s scammers are running multi-layered, international operations. These rings use AI to impersonate real individuals in Zoom calls, create fake job offers embedded with malware, and distribute convincing airdrops and Ponzi-style DeFi platforms.

The Rise Of AI-Driven Crypto Scams

The report outlines three major AI-powered scam trends:

1. Deepfake Impersonation: AI-generated videos and audio simulate real people—including influencers and crypto founders—to build trust quickly. A known case involved a deepfake of Elon Musk promoting a fake crypto giveaway during a live-streamed event.

2. Social Engineering Schemes: Posing as employers, colleagues, or customer support, scammers convince users to reveal private information or transfer funds. This tactic mimics methods seen in the infamous Twitter Bitcoin hack of 2020, where attackers hijacked major accounts to solicit crypto.

3. Ponzi and Rug Pulls Masquerading as DeFi Projects: Projects like Squid Game Token in 2021 or BitConnect in 2018 promised massive returns, only to vanish overnight, leaving investors empty-handed.

How Scammers Launder Funds

Once crypto assets are stolen, scammers don’t just sit on them. They often leverage tools like cross-chain bridges, mixers, and privacy coins to obscure the transaction trail. This makes it nearly impossible for even the most sophisticated tracing tools to recover stolen funds.

An X User Commenting On The Infamous Axie Infinity Hack

Source: X (@ericgoldenx)

A historic example is the $625 million Axie Infinity Ronin bridge hack in 2022. Despite intensive investigations, a large portion of those funds remains unrecovered.

Staying Safe In The Age Of AI Scams

As highlighted in the Bitget report, investor awareness is the strongest line of defense. Here’s what every crypto enthusiast should do to protect themselves:

1. Stick With Reputable Exchanges

Use platforms with a history of security and transparency. Established names like Bitget, Coinbase, and Kraken often conduct audits and flag suspicious projects early.

2. Verify Project Founders

Look for public team members with verifiable LinkedIn profiles, GitHub activity, or past ventures. Anonymous founders were common in scams like OneCoin, which cost investors over $4 billion.

3. Never Share Private Keys

No legitimate project will ever ask for your private keys or seed phrases. Treat them like the PIN to your bank account.

4. Be Wary of Unrealistic Promises

“If it sounds too good to be true, it probably is.” Avoid airdrops or offers requiring you to send funds first.

5. Don’t Fall for Urgency

Urgent deadlines, “limited-time offers,” or high-pressure interviews are red flags. Always take time to verify any opportunity.

6. Use Scam Detection Tools

Bitget’s Anti-Scam Hub, along with platforms like Chainalysis and ScamSniffer, help users identify threats before they become victims.

The Bigger Picture: Crypto Isn’t The Enemy

The issue isn’t with cryptocurrency itself, but how it’s being exploited. Just like the Internet revolution brought scams in email and e-commerce, the blockchain revolution is witnessing its own wave of misuse.

As crypto intelligence news continues to reveal evolving threats, staying informed and vigilant is critical. Cybercriminals are getting smarter, but so can we.

FAQ

What is the most common type of crypto scam?

According to the Bitget report, deepfake impersonation and social engineering tactics are the most widespread scams, replacing basic phishing emails.

How can I check if a crypto project is legitimate?

Look for team transparency, security audits, whitepapers, and social proof. Avoid projects with anonymous founders or unrealistic promises.

Has AI really made scams more dangerous?

Yes. AI enables scammers to scale their operations with realistic videos, fake websites, and automated bots, making deception far more convincing.

Are crypto mixers legal?

Some mixers are legal but are increasingly scrutinized. Platforms like Tornado Cash have been sanctioned by regulators due to their use in laundering funds from major hacks.

Can stolen crypto ever be recovered?

Rarely. Because of how blockchain obfuscation tools work, tracing and retrieving stolen funds is extremely difficult, especially when they move across multiple chains.